Billionaire Boys Club Member Forum (BBCMF)

[mick]

24-hour gold trading comes to Shanghai
Li Xinran
2005-11-18 Beijing Time
THE Bank of China Shanghai branch has begun to sell paper gold 24 hours a day, a notice on its Website said today.

"Huangjinbao" is the name of the paper gold trade that lets customers buy and sell gold at market prices. The gold price in China is the same as on the world market and fluctuates accordingly, the notice said.

The 24-hour service makes it possible for customers to trade gold from 8pm to 12pm, during which the price may change a lot, because it is the time trade in London ends and New York trade begins, the notice said.

Gold has performed better than stocks and bonds in the past four years, an expert from Shanghai branch told the Oriental Morning Post.

He said more and more people are investing in paper gold.